Global Artificial Intelligence (AI) Robots Market to Reach $21.4 Billion by 2026

AI or artificial intelligence in robotics is the integration of AI technology with robots enabling them to more efficiently perform repetitive tasks without human intervention. AI also enables robots to establish communication with other robots and humans. For companies, robots are proving to be more efficient and at the same time a cheaper labor. Companies in industries for which labor costs are the highest among costs are increasingly adopting AI robots. Companies in specialized fields that need top talent are expected to adopt AI integrated robots. Emergence of new tools for analysis of big data is also expected to contribute to market growth for AI in robots going forward.

Strong growth is anticipated for the market for AI in robotics over the coming years as industries recognize the powerful combination of the two technologies offering several benefits in automation of processes and tasks. AI in robotics enables industries to become increasingly flexible in their processes. The technology provides robots with the learning ability critical for applications. Companies would be able to considerably increase productivity, save time and also make workplace safer for human workers. AI and robotics combination can also enhance potential of human workers. The step ahead for AI would be augmented intelligence which would seamlessly link machine with machine for further productivity gains. Companies use robots as they are more productive in performing repetitive activities. Tasks can be performed with extreme precision and at great speeds. When integrated with AI, such robots get to learn processes and then perform tasks on their own, without human intervention. This benefit would emerge as the major growth driver for AI in robotics going forward.

Amid the COVID-19 crisis, the global market for Artificial Intelligence (AI) Robots estimated at US$5.2 Billion in the year 2020, is projected to reach a revised size of US$21.4 Billion by 2026, growing at a CAGR of 25.4% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 24.6% CAGR to reach US$13.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 26.4% CAGR for the next 7-year period. This segment currently accounts for a 43.2% share of the global Artificial Intelligence (AI) Robots market.

The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $2.6 Billion by 2026

The Artificial Intelligence (AI) Robots market in the U.S. is estimated at US$2.2 Billion in the year 2021. The country currently accounts for a 31.36% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.6 Billion in the year 2026 trailing a CAGR of 28.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.6% and 24.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 23.9% CAGR while Rest of European market (as defined in the study) will reach US$3.2 Billion by the close of the analysis period.